Reported 5 months ago
Chip stocks like Nvidia, TSM, and ASML plummeted as the Biden administration considers stricter controls on China's access to high-tech US chips. This potential crackdown aims to encourage other countries to adopt similar restrictions. The proposed rule could affect companies like TSMC and ASML, impacting their trade relationships with China and potentially boosting chip production in the US while limiting Beijing's access to advanced technology.
Source: YAHOO